Jim Cramer continued adding to his basket of speculative technology stocks on tonight’s MAD MONEY on CNBC. His #3 speculative stock pick was Cadence Design Systems Inc. (NASDAQ: CDNS), a maker of electronic design automation for hardware and software tools to help semiconductor companies.
Cadence is part of his making things better and smaller play for consumer electronics. This is a $5.00 stock that Cramer said is a classic example of a screw-up. It has bounced hard and can run more. The company got its management fired after a delisting notice. It also changed its revenue recognition.
But things looked much worse than they really were. Cramer thinks the estimates are way too low after it beat estimates. He thinks this company will now have apples-to-apples comparisons. His “and there is more” is that it has $2.20 in cash and the chairman has been doing some buying of the stock.
- Cramer’s first speculative tech stock this week on Monday was Tekelec (NASDAQ: TKLC), and here are the full details of that pick.
- Brocade Communications Systems, Inc. (NASDAQ: BRCD) was his second speculative tech stock from Tuesday, and those full details are here.
Shares of Cadence closed up 1.2% at $5.60 in regular trading, and shares have just popped up 15% to $6.43 in the after-hours session after the post-Cramer tout. This stock’s 52-week trading range is $2.42 to $11.73.
Jon C. Ogg
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